Yesterday, nine Bitcoin ETF rejections were issued by the U.S. Securities and Exchange Commission. In a possible change of heart, the SEC has placed the Bitcoin ETF denials under review.<\/p>\n
The U.S. Securities and Exchange Commission (SEC) is currently reviewing its disapproval of nine Bitcoin ETF<\/a> proposals by ProShares, Direxion and GraniteShares, according to three<\/a> letters<\/a> sent<\/a> by\u00a0SEC secretary Brent Fields.<\/p>\n In the letters, addressed to NYSE Group Senior Counsel David De Gregorio, Fields states that “the Commission will review the delegated action” on all three companies' Bitcoin ETF applications.<\/p>\n It is still unclear when the review will be completed.<\/p>\n “This letter is to notify you that, pursuant to Rule 43 I of the Commission's Rules of Practice, 17 CFR 20 I .43 1, the Commission will review the delegated action. In accordance with Rule 431 (e), the August 22 order is stayed until the Commission orders otherwise. The Office of the Secretary will notify you of any pertinent action taken by the Commission.”<\/p><\/blockquote>\n SEC Commissioner Hester Peirce<\/a>\u00a0took to Twitter to announce the news on Aug. 23. Notably, Peirce expressed dissent toward the SEC's recent rejection of the Winklevoss Bitcoin ETF proposal.<\/p>\n In English: the Commission (Chairman and Commissioners) delegates some tasks to its staff. When the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff's action, as will now happen here.<\/p>\n — Hester Peirce (@HesterPeirce) August 23, 2018<\/a><\/p><\/blockquote>\n\n